GOP Blocks DRILL Bill

[Charles_Main]

There are a lot of factors to be considered. How deep is it, What quality is the oil, just to name 2.

 

[Care4all]

There are a lot of factors to be considered. How deep is it, What quality is the oil, just to name 2.

and how are they going to getit to our coast.....no pipelines go out that far in the gulf....where will it go, once it got out of the ground? on barges as storage? then the cost of fuel to get the new fuel, to a refinery 200 miles away....

and of course we got hurricanes bigtime to worry about.....so far out, they need extra time to prepare and evacuate....and get the barges of oil storage out of harms way....keeping oil spillage off the table security of sorts needs considering....

or building a pipeline, costly to do out that far all under water....and of course it would probably be us taxpayers paying the cost while oil companies reap the benefits.....

yes, there is alot to think about....it ain't gonna be easy....

i just heard on c-span that all new oil prospects, even with opening up the gulf completely and atlantic and pacific, all add up to adding 1% ONLY to the world's supply, thus no price reduction, being on a global market since demand will be at a higher rate than that for the world....this global price crapola is for the birds!!!!!!!! should be cheaper if we get the oil from our own lands damnit!!!!

 

[Care4all]

There are a lot of factors to be considered. How deep is it, What quality is the oil, just to name 2.

oh, and the oil in this mega find 170 miles out in the gulf, but 30,000 feet below the gulf floor is the good stuff, sweet, light crude...is what i read.

 

[Tech_Esq]

and how are they going to getit to our coast.....no pipelines go out that far in the gulf....where will it go, once it got out of the ground? on barges as storage? then the cost of fuel to get the new fuel, to a refinery 200 miles away....

and of course we got hurricanes bigtime to worry about.....so far out, they need extra time to prepare and evacuate....and get the barges of oil storage out of harms way....keeping oil spillage off the table security of sorts needs considering....

or building a pipeline, costly to do out that far all under water....and of course it would probably be us taxpayers paying the cost while oil companies reap the benefits.....

yes, there is alot to think about....it ain't gonna be easy....

i just heard on c-span that all new oil prospects, even with opening up the gulf completely and atlantic and pacific, all add up to adding 1% ONLY to the world's supply, thus no price reduction, being on a global market since demand will be at a higher rate than that for the world....this global price crapola is for the birds!!!!!!!! should be cheaper if we get the oil from our own lands damnit!!!!

The oil in the Gulf is supposedly light, sweet crude, the easiest to refine. It take a lot less fuel to go 200 miles with a tanker than 10,000 miles from the Persian Gulf.

 

[Care4all]

The oil in the Gulf is supposedly light, sweet crude, the easiest to refine. It take a lot less fuel to go 200 miles with a tanker than 10,000 miles from the Persian Gulf.

so true, but somehow, cuz oil is on a global market, we will still pay the same price and i suppose the oil companies reap the benefits of such....though we do reap benefits of buying less oil from overseas, but it certainly is not going to help with our prices or our dependency on foreign oil...all the oil estimated out there in usa boundaries is only 3% of the world's oil supply and this is with the additional 1% we think is in moratorium areas, of the world oil supply we estimate out there, and estimated barrels that could be brought out per day is part of the calculation i heard talked about on the Senate floor on c-span? bottom line, we will still be extremely dependent on foreign oil, about 65%-70% still, even with the drilling in moratorium areas....

Conservation and innovation, a going to the moon project, is all that can save us now, from ourselves.... along with continued drilling....imho

fyi the debate on this issue is going on there now http://www.cspan.org it was a few minutes ago if you are interested!

 

[Tech_Esq]

so true, but somehow, cuz oil is on a global market, we will still pay the same price and i suppose the oil companies reap the benefits of such....though we do reap benefits of buying less oil from overseas, but it certainly is not going to help with our prices or our dependency on foreign oil...all the oil estimated out there in usa boundaries is only 3% of the world's oil supply and this is with the additional 1% we think is in moratorium areas, of the world oil supply we estimate out there, and estimated barrels that could be brought out per day is part of the calculation i heard talked about on the Senate floor on c-span? bottom line, we will still be extremely dependent on foreign oil, about 65%-70% still, even with the drilling in moratorium areas....

Conservation and innovation, a going to the moon project, is all that can save us now, from ourselves.... along with continued drilling....imho

fyi the debate on this issue is going on there now C-SPAN | Capitol Hill, The White House and National Politics - C-SPAN it was a few minutes ago if you are interested!

Well, there is an alternative to the global market. We could just keep all of our oil and they could keep theirs. There is this matter of a shortfall we might want to address first though. Or, we could adopt the "what ours is ours and what's theirs is ours" approach, but you may find that a little too militaristic for your tastes.

I don't know what to do with all of the vitriol for the oil companies. I don't particularly love them, but I don't hate them. They provide a service and product I need. I guess I look at them like the rest of the companies that do the same thing. I don't love my cable provider either or my cell phone company.

As far as profits....if you take big risks, and you win, you usually score big profits. They have a different model in some places, but I wouldn't like to live in those places.

 

[Charles_Main]

oh, and the oil in this mega find 170 miles out in the gulf, but 30,000 feet below the gulf floor is the good stuff, sweet, light crude...is what i read.

Did I say anything about that oil, I was talking about exploration in general.

 

[Care4all]

Did I say anything about that oil, I was talking about exploration in general.

did i say you did??? sheesh....

i thought i read somewhere the ONLY reason we prefer light crude IS because those are the kind of refineries we have, we could as easily change the new ones coming on board in the future to refine something other than light crude can't we and shouldn't we be thinking ahead in this kind of manner, if true? i admit, i know no more than a layman in this area but it still seems like we should have some refineries that refine the other junk?

 

[Charles_Main]

did i say you did??? sheesh....

i thought i read somewhere the ONLY reason we prefer light crude IS because those are the kind of refineries we have, we could as easily change the new ones coming on board in the future to refine something other than light crude can't we and shouldn't we be thinking ahead in this kind of manner, if true? i admit, i know no more than a layman in this area but it still seems like we should have some refineries that refine the other junk?

I could be wrong, but I believe it is cheaper to refine light crude because it requires less refinement.

 

[Care4all]

Well, there is an alternative to the global market. We could just keep all of our oil and they could keep theirs. There is this matter of a shortfall we might want to address first though. Or, we could adopt the "what ours is ours and what's theirs is ours" approach, but you may find that a little too militaristic for your tastes.

I don't know what to do with all of the vitriol for the oil companies. I don't particularly love them, but I don't hate them. They provide a service and product I need. I guess I look at them like the rest of the companies that do the same thing. I don't love my cable provider either or my cell phone company.

As far as profits....if you take big risks, and you win, you usually score big profits. They have a different model in some places, but I wouldn't like to live in those places.

we have 3%of the world's oil reserves, we use 27% of the world reserve's output...

we will never, ever be usa oil dependent i'm afraid....not unless we drastically reduce our consumption....which i can't imagine this happening anytime soon....

 

[Charles_Main]

we have 3%of the world's oil reserves, we use 27% of the world reserve's output...

we will never, ever be usa oil dependent i'm afraid....not unless we drastically reduce our consumption....which i can't imagine this happening anytime soon....

If you count the Estimated 800 Billion barrels worth of oil, in Shale oil. That 3% number is very much to low.

 

[Tech_Esq]

we have 3%of the world's oil reserves, we use 27% of the world reserve's output...

we will never, ever be usa oil dependent i'm afraid....not unless we drastically reduce our consumption....which i can't imagine this happening anytime soon....

Thank God somebody finally spouted this useless comparison.

If there are 100 trillion barrels of oil in the ground in the ENTIRE world (let's just say) and we only have 3 trillion of them. What fucking difference does it make if we use 10 billion barrels of oil per year and that equates to 27% of the world demand?

If China's demand next year doubles and we only have 10% of the world demand for oil, will we be better off? Does our 3% of oil reserves look better now? Fuck NO!

Our little 3% is just fine for the next 60 years or so (if we drill it), then we can talk. This is the danger when people start buying statistics that are politically loaded.

It's just like talking about the difference between the National Debt and the budget deficit.

 

[Care4all]

Thank God somebody finally spouted this useless comparison.

If there are 100 trillion barrels of oil in the ground in the ENTIRE world (let's just say) and we only have 3 trillion of them. What fucking difference does it make if we use 10 billion barrels of oil per year and that equates to 27% of the world demand?

If China's demand next year doubles and we only have 10% of the world demand for oil, will we be better off? Does our 3% of oil reserves look better now? Fuck NO!

Our little 3% is just fine for the next 60 years or so (if we drill it), then we can talk. This is the danger when people start buying statistics that are politically loaded.

It's just like talking about the difference between the National Debt and the budget deficit.

You are just not getting it imho....

Even if China had a 300% increase in their daily oil use, not a 10% increase, not a 20% increase in oil, not a 40% increase in oil not a 50% increase in oil and not even a 100% increase in oil consumption, would they come to the useage of the United states....but a 300% annual increase plus....

YOU are not taking in to consideration this very fact....we consume 20.7 million barrels a day and the next closet country is China but they only consume 6.5 million a day

Our 3% is NOT fine, because our 3% only supplies us with 25% to 35% of our daily needs, INCLUDING the estimate of what can come out daily of the ground in the moratorium areas....

our 3% of usa reserves ARE NOT ENOUGH TO EVER SUSTAIN US WITH oil...we have to IMPORT minimum 65% more to accomodate our consumption....and you obviously are not understanding this....???

we will never be independent AND free from FOREIGN oil UNLESS we change our habits drastically....

just have the Saudis pump more oil, if you want prices to go down and us to get more oil....what does it matter? no matter what WE WILL BE IMPORTING AT LEAST 65% of our oil MINIUMUM.....unless we get off of oil as one of the main fuel source for us....

NationMaster - Oil > Consumption (most recent) by country

Care

 

[Care4all]

If you count the Estimated 800 Billion barrels worth of oil, in Shale oil. That 3% number is very much to low.

no it isn't Charles, it included all the oil we possibly have to recover....look it up yourself...even taking the high estimates i believe....


**
let me see what i can get to link up....give me a few...

ALSO, it was based on our yearly recovery of oil

 

[Care4all]

oh, we gotta remember that oil wells of past and present, run out....pump less as the well's coming close to dry....

IS THE SHALE oil really that much charles? seems real high?

i know canada has perfected a way to recover the shale and is supposedly successful at it, i read...

 

[Charles_Main]

oh, we gotta remember that oil wells of past and present, run out....pump less as the well's coming close to dry....

IS THE SHALE oil really that much charles? seems real high?

i know canada has perfected a way to recover the shale and is supposedly successful at it, i read...

800 Billion barrels is actually the low estimate. The high estimate is 1.5 TRILLION barrels.

Oil Shale Resources

Green River Formationclick to view larger image
Location of the Green River Formation Oil Shale and Its Main Basins



While oil shale is found in many places worldwide, by far the largest deposits in the world are found in the United States in the Green River Formation, which covers portions of Colorado, Utah, and Wyoming. Estimates of the oil resource in place within the Green River Formation range from 1.2 to 1.8 trillion barrels. Not all resources in place are recoverable; however, even a moderate estimate of 800 billion barrels of recoverable oil from oil shale in the Green River Formation is three times greater than the proven oil reserves of Saudi Arabia. Present U.S. demand for petroleum products is about 20 million barrels per day. If oil shale could be used to meet a quarter of that demand, the estimated 800 billion barrels of recoverable oil from the Green River Formation would last for more than 400 years1.

If it could meet a quarter of our demand for 400 years, it could meet 100% of our demand for 100 years, Plenty of time to find alternatives to oil me thinks!! Not to mention going after all that shale would mean creating a lot of US jobs, and investing Billions into the US economy instead of sending money over seas. Win win win.

Source
About Oil Shale

This one puts it at 1.5 Trillion Barrels, as you pointed out the Technology exists to go get this stuff, so why shouldn't we. You want to end our dependence on foreign oil, and lower the trade deficit, here is how to do it. We could be completely independent of Foreign oil even at the low estimates if we just used this stuff.

Oil Shale Reserves - A Daily Reckoning White Paper Report

I would like to add that we need more refineries, I know I keep saying this, but I don't think people get it. We use 20 plus million barrels of Oil but are only capable of refining about 17.5 million barrels. That my friends is what you call a bottle neck, and that is why even with there not being a shortage of oil, there is a shortage of gas. That clearly is a big reason gas is so high today.
http://www.eia.doe.gov/neic/rankings/refineries.htm

 

[Tech_Esq]

You are just not getting it imho....

Even if China had a 300% increase in their daily oil use, not a 10% increase, not a 20% increase in oil, not a 40% increase in oil not a 50% increase in oil and not even a 100% increase in oil consumption, would they come to the useage of the United states....but a 300% annual increase plus....

YOU are not taking in to consideration this very fact....we consume 20.7 million barrels a day and the next closet country is China but they only consume 6.5 million a day

Our 3% is NOT fine, because our 3% only supplies us with 25% to 35% of our daily needs, INCLUDING the estimate of what can come out daily of the ground in the moratorium areas....

our 3% of usa reserves ARE NOT ENOUGH TO EVER SUSTAIN US WITH oil...we have to IMPORT minimum 65% more to accomodate our consumption....and you obviously are not understanding this....???

we will never be independent AND free from FOREIGN oil UNLESS we change our habits drastically....

just have the Saudis pump more oil, if you want prices to go down and us to get more oil....what does it matter? no matter what WE WILL BE IMPORTING AT LEAST 65% of our oil MINIUMUM.....unless we get off of oil as one of the main fuel source for us....

NationMaster - Oil > Consumption (most recent) by country

Care

No, I believe you just aren't getting it. Charles does get it. If we have 3% of the world's oil reserves we should be able to tap enough of it all at one time to provide 100% of our oil usage for 50 or 100 years. That should be more than enough time to develop alternate sources of energy and not destroy our economy at the same time.

 

[Charles_Main]

No, I believe you just aren't getting it. Charles does get it. If we have 3% of the world's oil reserves we should be able to tap enough of it all at one time to provide 100% of our oil usage for 50 or 100 years. That should be more than enough time to develop alternate sources of energy and not destroy our economy at the same time.

Not to mention that that 3% figure clearly does not count shale oil, and probably not the Oil and Natural Gas the USGS just announced is in the Arctic. The Shale oil along constitutes up to 3 times the Oil found in all of Saudi Arabia. Seems to me that makes that 3% number bogus, and Way to low.

In fact I would be willing to bet if we fully developed all of our resources, including the Shale, and arctic resources, that not only could we supply all our own oil, we could probable become and exporter of Oil.

 

[wayne]

Well, there is an alternative to the global market. We could just keep all of our oil and they could keep theirs. There is this matter of a shortfall we might want to address first though. Or, we could adopt the "what ours is ours and what's theirs is ours" approach, but you may find that a little too militaristic for your tastes.

I don't know what to do with all of the vitriol for the oil companies. I don't particularly love them, but I don't hate them. They provide a service and product I need. I guess I look at them like the rest of the companies that do the same thing. I don't love my cable provider either or my cell phone company.

As far as profits....if you take big risks, and you win, you usually score big profits. They have a different model in some places, but I wouldn't like to live in those places.

I agree we should have a law that requires oil produced in US territory to stay in the US and be consumed here. If we need additional oil we would import it. Any country should only export its surplus. Since we most likely never again be am oil exporting nation all our oil would be consumed in the US.

 

[Tech_Esq]

Not to mention that that 3% figure clearly does not count shale oil, and probably not the Oil and Natural Gas the USGS just announced is in the Arctic. The Shale oil along constitutes up to 3 times the Oil found in all of Saudi Arabia. Seems to me that makes that 3% number bogus, and Way to low.

In fact I would be willing to bet if we fully developed all of our resources, including the Shale, and arctic resources, that not only could we supply all our own oil, we could probable become and exporter of Oil.

But wait! Turns out things aren't as bleak as we've been led to believe....SHOCKER...LOL. See here Massive Oil Deposit Could Increase US reserves by 10x All we have to do is drill it! Now what Care? Why shouldn't we drill this oil? What if we drilled this oil and the Gulf oil and the ANWR oil?

If we didn't know we were sitting on the oil before and we just found out we're sitting on the oil, would it still only be 3% or would it really be more than that? (HINT: open the page and look at it).